Mirum Pharmaceuticals (NASDAQ:MIRM) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Mirum Pharmaceuticals' rating was upgraded from "buy" to "strong-buy" by Wall Street Zen, indicating increasing analyst confidence in the company's stock.
• Evercore ISI and HC Wainwright have also raised their price targets for Mirum Pharmaceuticals, with the consensus price target now set at $74.13.
• The company reported a quarterly revenue of $127.79 million, exceeding analysts' expectations, resulting in a year-over-year revenue increase of 64.1%.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Sunday.

MIRM has been the subject of a number of other reports. HC Wainwright boosted their price target on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 7th. Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the company a "buy" rating in a report on Monday, August 11th. JMP Securities set a $81.00 price objective on shares of Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Finally, Evercore ISI boosted their target price on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $74.13.

Mirum Pharmaceuticals Stock Up 3.5%

Shares of MIRM stock traded up $2.35 on Friday, reaching $69.06. 559,556 shares of the company were exchanged, compared to its average volume of 724,036. The company has a market cap of $3.47 billion, a price-to-earnings ratio of -57.07 and a beta of 0.94. The company has a 50-day moving average of $54.37 and a 200-day moving average of $48.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. Mirum Pharmaceuticals has a one year low of $36.86 and a one year high of $69.27.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.19. The business had revenue of $127.79 million for the quarter, compared to analysts' expectations of $107.91 million. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The firm's revenue for the quarter was up 64.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.52) EPS. Analysts anticipate that Mirum Pharmaceuticals will post -1.43 earnings per share for the current year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the sale, the chief executive officer owned 138,641 shares of the company's stock, valued at approximately $8,595,742. This trade represents a 22.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jolanda Howe sold 10,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the transaction, the senior vice president directly owned 2,426 shares in the company, valued at $140,708. This represents a 80.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,041 shares of company stock valued at $5,320,624 in the last quarter. 14.36% of the stock is owned by insiders.

Institutional Trading of Mirum Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc boosted its holdings in Mirum Pharmaceuticals by 0.4% in the second quarter. Legal & General Group Plc now owns 43,010 shares of the company's stock worth $2,189,000 after purchasing an additional 176 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Mirum Pharmaceuticals by 2.2% during the second quarter. Teacher Retirement System of Texas now owns 9,903 shares of the company's stock valued at $504,000 after purchasing an additional 215 shares in the last quarter. Palumbo Wealth Management LLC raised its position in Mirum Pharmaceuticals by 4.2% in the second quarter. Palumbo Wealth Management LLC now owns 5,604 shares of the company's stock worth $285,000 after acquiring an additional 228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Mirum Pharmaceuticals by 14.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,914 shares of the company's stock worth $97,000 after acquiring an additional 248 shares in the last quarter. Finally, Comerica Bank increased its stake in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after purchasing an additional 278 shares in the last quarter.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.